by Matthew Gensburg | Nov 5, 2024 | GCK on Law
Conversion is an unauthorized act, which deprives a person of his property permanently, or for an indefinite time.[1] Accordingly, to prove conversion, the plaintiff must prove the following elements by preponderance of the evidence: (1) the defendant’s...
by Sandra Mertens | Oct 10, 2024 | GCK on Law
In Connolly v. U.S., 602 U.S. ____, 144 S.Ct. 1406 (decided June 6, 2024), the U.S. Supreme Court considered whether and how a key person insurance policy owned by a corporation and used to redeem an owner’s shares affected a decedent’s estate tax liability. In the...
by GCK Legal | Oct 3, 2024 | GCK on Law
The Internal Revenue Service reminds taxpayers to beware of promoters claiming their services are necessary to resolve unpaid taxes owed to the IRS while charging excessive fees, often with no results. These unscrupulous “mills” use aggressive marketing to make false...
by GCK Legal | Oct 3, 2024 | GCK on Law
Businesses that claimed the Employee Retention Credit may have received IRS Letter 105-C, a disallowance letter, if the IRS identified their claim as ineligible. A new page on IRS.gov, Understanding Letter 105-C, Disallowance of the Employee Retention Credit, can help...
by Sandra Mertens | Sep 18, 2024 | GCK on Law
Under the new Corporate Transparency Act (codified as 31 U.S.C. §5336) (“CTA”), covered entities must file “Beneficial Owner Information Reports” with the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) within 30 or 90 days after formation...
by Sandra Mertens | Sep 11, 2024 | GCK on Law
On January 1, 2021, Congress enacted the Corporate Transparency Act (codified as 31 U.S.C. §5336) (“CTA”) within the larger National Defense Authorization Act (“NDAA”). The CTA imposed new reporting and disclosure requirements on approximately 25 million existing...
